NEW YORK (AP) -- Billionaire broker Carl C. Icahn says he has agreed to shop for a majority of the first-lien coffer debt of Trump Entertainment Resorts Holdings, which owns three Atlantic City casinos.
The accord is allotment of a defalcation about-face plan Icahn adjourned to advice the afflicted coffer aggregation appear from bankruptcy.
Trump Entertainment filed for bankruptcy protection in February, the third such filing for the company or its corporate predecessors. The company owns Trump Taj Mahal Casino Resort, Trump Plaza Hotel and Casino, and Trump Marina Hotel Casino.
The deal was negotiated with Beal Bank and Beal Bank Nevada, which are headed by Donald Trump's friend Andy Beal.
Icahn says the plans offers the casino company no debt and the ability to weather current economic turmoil.
Icahn buys 1st-lien debt of Trump's coffer company
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